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How to handle creditors
Many of us have been in situations at some time or another where we fall behind on paying our bills, credit cards etc. Whether we loan money to family members to help them out, unexpected car repairs or simply exceeding our personal budget people tend to get behind on bills. Nothing to be ashamed of. It's simply another aspect of life we deal with. I cant tell you how many times I had to wire money to help my brother while negating my own financial obligations. But the solution is never stop paying creditors and always give them something.
Let's say a creditor is demanding a minimum of $100 dollars per month but you can only afford to send $50 dollars. If you send them a check or certified money order (never send cash and avoid using a credit card for payment if possible) and they cash your $50 dollars then legally you're not obligated to pay them more than $50 dollars per month since they accepted your money. This will be upheld in any civil or small claims court. The creditors may still try to harass you for more money but legally they can do nothing more than badger you with letters and phone calls. And while the creditors are accepting your money this will improve your credit Rating. This is a long kept secret of credit agencies. The key is whatever amount creditors accept that's the amount the consumer is obligated to pay.
Keep your head up,
Meroe
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